Why did Herber Hoovers theory of rickle-down economics fail to end he dpression?

Answer 1

Herbert Hoover's theory of trickle-down economics failed to end the Great Depression primarily because it relied on the assumption that benefits provided to the wealthy and businesses would eventually trickle down to the broader population in the form of job creation and economic growth. However, during the economic downturn, many businesses hoarded cash instead of investing or expanding, leading to stagnant wages and rising unemployment. Additionally, the lack of direct support for struggling individuals and families exacerbated the economic crisis, as consumer spending continued to decline. Ultimately, this approach did not address the immediate needs of the population, resulting in prolonged economic suffering.